ECONOMICS: $15 minimum wage

Monday, July 11, 2016

http://www.foxnews.com/politics/2016/07/09/democratic-party-platform-calls-for-15-minimum-wage-in-win-for-sanders.html

DEMOCRATIC CONVENTION
Democratic party platform calls for $15 minimum wage in win for Sanders
Published July 09, 2016  FoxNews.com

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Sen. Bernie Sanders’ effort to shape the Democratic Party’s election platform scored a major victory Friday with the approval of an amendment calling for increasing the federal minimum wage to $15 per hour.

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Haven’t heard anything this stupid since the bit about Alabama setting the value of pi to be the “Biblical value” of 3.0!

Seriously though, how can a major political party defy the LAWS of economics?

It’s as if they think that, like King Canute, they can change the laws of the physical Universe.

The Laws of Economics are as real as any of the other laws of the physical Universe like the Law of Gravity.

Argh!

How STUPID can the average American voter be to vote for them?

Argh!

http://www.snopes.com/media/notnews/pi.asp

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This wonderful bit of creative writing began circulating on the Internet in April 1998. Written by Mark Boslough as an April Fool’s parody on legislative and school board attacks on evolution in New Mexico, the author took real statements from New Mexican legislators and school board members supporting creationism and recast them into a fictional account detailing how Alabama legislators had passed a law calling for the value of pi to be set to the “Biblical value” of 3.0. 

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ECONOMICS: Social Security “Insurance” Bankrupt

Sunday, July 3, 2016

http://www.economicpolicyjournal.com/2016/06/scathing-new-report-shows-just-how.html

WEDNESDAY, JUNE 29, 2016
Scathing New Report Shows Just How Bankrupt Social Security Really Is
By Simon Black

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Last week, a group of analysts published an astonishing report about the future of Social Security in the United States, and their remarks were nothing short of damning.

According to their calculations, for example, these analysts claim that Social Security is already running a huge deficit to the tune of tens of billions of dollars each year.

In fact, this Social Security funding deficit has been taking place for several years now, and it’s actually accelerating. So the problem worsens each year.

*** and ***

Don’t get me wrong– I don’t mean “fix Social Security”. Oh no. That program is toast.

I’m talking about fixing this for yourself.

Retirement is one of those life events that is completely predictable. We know it’s going to happen.

And with a little bit of education, planning, discipline, and execution, we can vastly influence the outcome and prevent any major catastrophe from interfering with our goals.

You can dramatically boost your own nest egg, for example, and have much greater say over your retirement assets by setting up a structure like a solo 401(k) or a self-directed IRA.

It also makes sense to invest in your financial education; learning more about investing will clearly be beneficial in boosting your returns, and this can have a profound effect over time.

Especially if you’re younger, increasing your average return by just 1% over the course of 20-40 years can add up to hundreds of thousands of dollars in additional retirement savings.

You may also want to consider retiring abroad where you can live the lifestyle you’ve always wanted at a fraction of the price, and substantially stretch the time and value of your retirement savings.

Look, I’m convinced that Social Security will become a national emergency some day. Just remember that since its demise is conspicuously predictable, the impact on your life is completely preventable.

*** end quote ***

Social Security Insurance is like a Ponzi scheme.

At least the Ponzi victims made a free choice to “invest” in the scheme.

Every “worker” today has no choice but to accept an “investment” with an estimated negative return of between of 2 and 15%.

Further it’s a wealth transfer from poor minority men to rich white women.

So, why do we still have this racist scam.

Set people free to save for their own retirement.

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ECONOMICS: 2% inflation = 47 cents of purchasing power after 30 years

Tuesday, May 17, 2016

http://contrakrugman.com/ep-35-debt-default-good-or-bad/

Ep. 35 Debt Default: Good or Bad?
15 May 2016     |     Tom Woods     |    

You’ll never guess: Krugman contradicts himself this week, but only Bob Murphy, who knows Krugman’s columns inside and out, caught him. This week the topic is whether it’s a good idea at some point to repay the national debt at less than face value. Krugman is horrified, so maybe it’s a good idea….

Krugman Column“The Making of an Ignoramus” (May 9, 2016)
“Keynesians on Treasury Default: Depends Who’s in the White House,” by Robert P. Murphy
“Trump’s Right — Paying Back the National Debt with ‘Discounts’ Is Already Official Policy,” by David Stockman
“Repudiating the National Debt,” by Murray N. Rothbard

Related EpisodeEp. 33 Krugman and Hamilton Sitting in a Tree

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Key takeaway: 

If the Fed does meet its target inflation rate of 2%, then arithmetically over thirty years your dollar’s purchasing power is down 53%.

It’s a silent theft of your wealth.

Good luck saving with that scenario. Back to the analogy — what do you want find a pirates chest full of: US “dollars”, Confederate dollars, or gold coins?

Argh!

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ECONOMICS: One great reason to raise the minimum wage

Monday, May 16, 2016

http://tomwoods.com/podcast/ep-659-afraid-of-president-trump-how-about-presidents-in-general/

Ep. 659 Afraid of President Trump? How About Presidents in General
12th May 2016
Tom Woods

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Michael Malice makes his triumphant return to the show with a discussion of a possible President Trump, and why Trump Derangement Syndrome seems to make people forget how bad the other presidents have been.

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Michael Malice hit a great reason to raise the minimum wage.

Get the stupid people who screw up your order out of the process.

Look at Wendys putting in the kiosks.

Wawa and QuickCheck has.

Feel sorry for the unemployable.

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ECONOMICS: So much for a “great economy”!

Friday, May 13, 2016

https://www.lewrockwell.com/2016/05/michael-snyder/global-depression-begun/

Rail Traffic Depression: 292 Union Pacific Engines Are Sitting In The Arizona Desert Doing Nothing
By Michael Snyder
The Economic Collapse
May 11, 2016

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Because rail traffic is down so dramatically, many operators have large numbers of engines that are just sitting around collecting dust.  In his article, Wolf Richter shared photographs from Google Earth that show some of the 292 Union Pacific engines that are sitting in the middle of the Arizona desert doing absolutely nothing. 

*** end quote ***

All the politicians and bureaucrats squawking about the “great economy” can’t make it so.

Argh!

What we need is to unleash the entrepreneurs.

* A ten year moratorium on new regulations, laws, tax policy changes, and other Gooferment diktats.

* A 10% tax rate for individuals and corporations.

* Ten years of zero Gooferment deficits.

* and put all mandates and liabilities must be put on a track to be fully funded in 10 years.

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ECONOMICS: “Income Mobility” is another liberal scam

Thursday, March 31, 2016

http://contrakrugman.com/ep-28-income-mobility-really-does-exist-paul-krugman/

Ep. 28 Income Mobility Really Does Exist, Paul Krugman
26 March 2016
Tom Woods

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We managed to dig out some economics from yet another standard Krugman attack on the Republican Party. This time it’s his skepticism about the existence of very much income mobility in America. We’ll say this: if government programs had the record of success in this area that the (hampered) market economy has, Krugman would never let us hear the end of it.

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Krugman Column “On Invincible Ignorance” (March 21, 2016)

http://www.nytimes.com/2016/03/21/opinion/on-invincible-ignorance.html?_r=1

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Bernie, and to a lesser extent, Hillary beat this “drum” often.

But in this podcast, the team — Bob Murphy and Tom Woods — destroy the whole argument.

Obviously, by deliberately not tracking individuals, the Left gets a great talking point that is totally wrong.

I especially like the “rags to riches and riches to rags” stories. 

Makes sense.

And, how do immigrants, who arrive with virtually nothing, survive and succeed with that starting point?

Conflicts with the narrative that the Leftists want to push.

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ECONOMICS: “The Bureau of Lies & Scams”?

Thursday, March 10, 2016

https://www.lewrockwell.com/2016/03/jim-quinn/lies-damn-lies-bls-statistics/

Lies, Damn Lies, & BLS Statistics
By Jim QuinnThe Burning Platform
March 5, 2016

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So, we have the BLS reporting tremendous job growth over the first two months of 2016, while actual payroll tax data and actual corporate layoff announcements showing little or no growth. Who to believe? Wages are dropping. The number of hours worked is dropping. The number of part-time jobs is soaring. The number of self-employed Ebay sellers is going up. Retail sales are terrible. Polls show most people think the economy is on the wrong track. Corporate profits and all economic indicators indicate recession. Establishment politicians are being tarred and feathered. Do you believe the facts or do you believe the government manufactured propaganda, propagated by their corporate MSM mouthpieces, and peddled by the Wall Street criminal bankers?

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He correctly calls it the “The Bureau of Lies & Scams”!

It should be unnecessary to estimate anything!

Use the tax withholding data — number of people paying taxes and how much they pay — and there is no need for fudging (i.e., adjustments).

Over time all the “seasonal effects” will sort themselves out.

Unfortunately, “We, The Sheeple” are fooled by all the “adjustments”.

But you just have to look with your own eyes. Just yesterday, I rode by several half empty shopping centers and several completely empty one. Add all the stand alone sites that are empty and available!

Argh!

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ECONOMICS: The FED is very political and left-leaning

Thursday, January 28, 2016

https://www.lewrockwell.com/2016/01/no_author/fed-pricks-bubble/

Market Tanking After Fed Pricked Their Own Bubble
By Samuel Bryan 
SchiffGold.com
January 26, 2016

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“I think [Yellen] wants to elect Hillary Clinton. She doesn’t want to hand the White House over to Republicans or Donald Trump. I think she doesn’t want to have happen to Hillary what happened to John McCain. When the wheels came off the bus in the last year of the Bush administration, a Republican had no chance. Obama’s whole claim to fame is that he inherited a disaster and now everything is great. The truth is he inherited a disaster and now it’s a bigger disaster…

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It’s a shame because if we had a “true told standard”, the politicians could not mess with the “money” or the interest rate.

The boom ’n’ bust cycle is caused by the mistakes (what the Austrian School of Economics calls “malinvestment”) of entrepreneurs, investors, and corporate executives. Look at the empty cities that the Chinese have built for bad decisions.

When an entrepreneur, using his own capital, makes a bad decision, they bear the damage.

When the politicians and bureaucrats make a bad decision, it’s the taxpayers and Joe-Sixpack who are hurt.

Look at TARP which was passed to by distressed mortgages and allow Joe-Sixpack to stay in his home and work it out. Instead, it “magically” was transformed into a bailout for Wall Street and the Big Banks. They paid out big bonuses to their executives and, together with those executive, made big contributions to the politicians, their PACs, and their parties — both of them!

Argh! And, you wonder why I am cynical about all of them?

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ECONOMICS: Cardboard and skyscrapers are pointing to a down economy

Tuesday, January 5, 2016

https://www.lewrockwell.com/2016/01/mark-thornton/crazed-skyscrapers/

Will 2016 Be the End of the Current Skyscraper Boom?
By Mark Thornton Mises.org
January 2, 2016

*** begin quote ***

The important thing to remember is that skyscrapers do not cause economic crises. Rather they are just a very noticeable example of the distortions taking place throughout the economy when interest rates are kept artificially low by the central bank.

In addition to record breaking skyscrapers, there are many less perceptible changes taking place. Entrepreneurs are building bigger, longer term projects and production processes. Relative prices, i.e., interest, land, capital, and labor prices, are being distorted. Technology, nearly everywhere, is on the fast track. The economy is booming.

*** end quote ***

And like the recent fire and two reported elevator crushings, I’m not sure that I want to be in “skyscrapers”. Or anything more than two or three stories. Maybe I’m getting old and fearful.

A recent conversation with a garbage executive confirmed that the “cardboard index” had collapsed. Despite Amazon from single handedly dropping all manner of “stuff” wrapped in cardboard, the recycling prices paid for cardboard had collapsed. This is an indication of economic activity.

So, as the doom ’n’ gloomer in the peanut gallery, I’d urge financial caution and lower expectations.

The world has become a lot more dangerous and the US has become even more divided on personalities and issues. 

So fellow turtles, pull in your neck and wait the storm out.

It’s gonna get ugly out there.

“Gentlemen, prepare to defend yourselves!” Sergeant Major Basil Plumley (played by Sam Elliott): [about to face an onslaught of attacking NVA soldiers] http://buff.ly/1E8nOVr

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ECONOMICS: No surprise — no growth in the Pepuls Republik of Nu Jerzee

Monday, June 15, 2015

http://patch.com/new-jersey/ridgewood/new-jerseys-economic-growth-among-worst-usa?utm_source=alert-breakingnews&utm_medium=email&utm_term=politics%20%26%20government&utm_campaign=alert

New Jersey’s Economic Growth Among Country’s Worst: New Report
New Jersey’s gross domestic product grew a mere 0.4 percent in 2014, ranking 46th in the nation.
By TOM DAVIS (Patch Staff)June 13, 2015

*** begin quote ***

New Jersey’s economy is barely ticking upward, with its growth ranking near the bottom in 2014 – and falling far below the national average.

New Jersey’s gross domestic product grew a mere 0.4 percent in 2014, ranking in a three-way tie for 44th in the nation, according to the Bureau of Economic Analysis. The nation’s real GDP grew 2.2 percent in 2014 after increasing 1.9 percent in 2013.

The state’s growth slowed from previous years, In 2012, the GDP grew 2.5 percent, and in 2013, there was 0.8 percent growth.

The state had the slowest growth of any state in the Mideast region, way behind New York’s 2.5 percent GDP growth.

Gordon MacInnes, president of New Jersey Policy Perspective, a liberal Trenton-based think tank, told NJSpotlight that the state needs to invest more in education, public transit and transportation infrastructure, as well as colleges and universities.

“You can’t create a strong economy and create jobs without a strong foundation,” MacInnes said told the publication.

*** end quote ***

“Invest” my <synonym for donkey>!

Spending more money — stolen from over taxed residents of the Pepuls Republik of Nu Jerzee — will not spark any type of growth. Except it the taking class of teachers’ unions, other Gooferment unions, politicians, and bureaucrats!!!

Cut the minimum wage.

Cut the corporate and individual tax rates.

Convert Gooferment pensions to 401s like private businesses are doing.

Introduce a meaningful school choice voucher program.

Reduce education expenses by consolidation of the 600+ “school districts” into 21 county ones.

UNWIND the regulatory state.

End the “(pseudo) War on (some) Drugs” and pardon all non-violent drug offenders.

Eliminate property taxes to fund Gooferment Skrules. (Eliminate Gooferment Skrules entirely!)

And, my personal favorite, end the inheritance tax.

THEN watch the Stte become a magnet for people, business, and happiness!

Argh!

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